Northern Petroleum Plc Northern Petroleum Plc

27th October 2010

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• AIM LISTED

• PROVEN PETROLEUM SYSTEMS

• OIL & GAS EXPLORATION AND DEVELOPMENT NOW STARTING PRODUCTION PHASE

• GOOD CASH POSITION OF €25.8 MILLION AT JUNE 30 2010

• PROVEN TRACK RECORD OF FUNDING FROM ASSET SALES AND FARM-OUTS

• LARGE EXPLORATION POTENTIAL WITH SHELL IN ONE PROJECT ALREADY

• POLITICALLY SAFE AREAS WITH PETROLEUM INFRASTRUCTURE

Company OverviewCompany Overview

100 + Millions Barrels100 + Millions Barrels

10 onshore exploration and production licences1 offshore application

2P reserves:7.0 million boe100% Oil

Guyane:1.25% interest in Guyane, an offshore licence operated by Tullow Oil. Shell and Total are partners

Italy:14 Fully awarded licences2 Applications contested 20 Applications un-contested

Probable reserves:2P reserves:53.2 million boe100% OilProspective resources:8.4 billion boe identified to date

Netherlands:6 onshore production licences1 offshore production licence3 onshore exploration licences5 gas fields in production

2P reserves:42.5 million boe, 25% Oil, 75% Gas

Operator 50 LicencesNon Operator 3 Licences

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Northern’s Add Value and Trade StrategyNorthern’s Add Value and Trade Strategy

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• NETHERLANDS DYAS

EBN

Nederlandse Aardolie Maatschappij (NAM) –(SHELL/EXXON)

WINTERSHALL

TOTAL

• ITALY SHELL

• UK TULLOW OIL

SHELL

TOTAL

• GUYANE Star Energy (subsidiary of PETRONAS International)

With Quality PartnersWith Quality Partners

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0

1000

2000

3000

4000

5000

6000

2010 2011 2012 2013 2014 2015

Net P

rodu

ction

(BOE

/D)

Proven Oil Under-Development

Proven Gas Under-Development

Proven Developed Producing

Proven oil under development:• Ottoland• Papekop

Proven gas under development: • Brakel• Wijk en Aalburg• Geesbrug in fill

Producing:• Waalwijk• P12• Geesbrug 1• Grolloo

Proven Reserves Production Forecast – Existing Proven Reserves Production Forecast – Existing DevelopmentsDevelopments

Netherlands: Increasing ProductionNetherlands: Increasing Production

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Producing fields (average for H1)

Waalwijk 101 net boepdP12 100 net boepdDrenthe IV- Grolloo 424 net boepd Drenthe III – Geesbrug 541 net boepdBrakel onstream 23/09/10

Reserves under development

Andel III - Wijk en Aalburg GasDrenthe III - Geesbrug expansion GasPapekop Oil & GasAndel III – Ottoland Oil & Gas

Project Development of existing discoveries

Drenthe III - Tiendeveen Gas Zuid Friesland - Woudsend Gas - Oppenhuizen GasUtrecht – North Ottoland GasAndel III – Kerkwijk GasUtrecht – Willeskop Gas

Exploration Prospects

Oosterwolde GasUtrecht – Everdingen South GasUtrecht – Meerkerk South Gas Drenthe III - Lhee Gas

Good inventory of new production projectsGood inventory of new production projects

Gas price received August in excess of €0.21 /n³ m ($7.2mcf)

Summary of key near term activitySummary of key near term activity

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Ongoing: UK and Italian asset sales/farmouts; reserve based debt finance discussions; interpretation of Thrust and Fold Belt 3D volume

Q4 2010: Longastrino farmout; drilling of 44bcf prospect progressed, planned for 2011Q4 2010: Drill Markwells Wood appraisal and Havant prospectQ4 2010 – Q1 2011: Planned testing and hydraulic fracturing of TiendeveenQ1 2011: Wijk en Aalburg production Q1 2011: Participate with partners Tullow, Shell and Total to spud exploration well offshore GuyaneH1 2011: Thrust and Fold Belt drill decision expectedH1 2011: Planned testing of Ottoland FieldH2 2011–H1 2012: Drilling of Geesbrug-2, Papekop-2 and North Ottoland prospect (47.2bcf of contingent resource)2011: Acquire further seismic data in Italy to improve farmout terms2012: Exploration wells planned on Oosterwolde and Utrecht (Everdingen South)

Geesbrug Pipeline LayingGeesbrug Pipeline Laying

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What our Partners have said.......What our Partners have said.......

“I am delighted with Northern’s first successful development in the Netherlands. It shows there is still sufficient gas potential in the Netherlands and it is another step towards our goal of producing 30 bcm from small fields by 2030.” Chairman of the Executive Board of EBN, Jan Dirk Bokhoven

“Dyas congratulates Northern Petroleum with this important milestone of reaching first gas on the Grolloo field. This is an important step into unlocking reserves from similar small gas pockets in the Netherlands that were previously considered not to be economically attractive.” Peter Veenhof, Managing Director Dyas

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Offshore Sicily Oil PotentialOffshore Sicily Oil Potential

GR20NP

GR21NP

GR18NP

GR22NP

GR17NP

GR19NP

d362CRNP

d25GRNP

d21GRNP

d26GRNP

d365CRHC

d366CRHC

d352CRSL

d353CRSL

LIPPONE-MAZZARA

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d30GRNP

d29GRNP d347CRNP

d36GRHC

d35GRHC

GR13AG

GR14AG

d354CRSL

d346CREA

d3GCAG

d2GCAG

d358CREL

Sicily Channel – Offshore Southern SicilySicily Channel – Offshore Southern Sicily

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CR147NP

GR15PU

d36GRHC

d35GRHC

d364CRAX

d1GCAG

PANTELLERIA

Sicily Channel – Pantelleria IslandSicily Channel – Pantelleria Island

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Southern Adriatic – Fields and ProspectsSouthern Adriatic – Fields and Prospects

53.16 million barrels of Probable Reserves in Rovesti and Giove discoveries

Prospective Resources (P50)Gross: 3.75 billion barrels recoverable

Prospective Resources (P50)Gross: 9 trillion cubic feet recoverable

d71F.R-.NP and d72F.R-.NP are adjacent to the Cairn operated Albanian licence on which 3D seismic has been acquired and a well is planned for 2011.

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d71FRNP

d72FRNP

Southern Adriatic SeaSouthern Adriatic Sea

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FR40NP

FR39NP

d60FRNP

d61FRNPd65FRNP

d66FRNP

d149DRNP

F.C 2.AG

Southern Adriatic SeaSouthern Adriatic Sea

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Undeveloped Gas DiscoveriesUndeveloped Gas Discoveries

• Area surrendered by Eni before deregulation of the gas and power markets

• Preliminary award received and the environmental report submitted

• Eni 3D seismic data available for purchase

• Exploration prospects have been indentified in addition to discoveries

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d59FRNP

d64FRNP

D.C 1.AG

D.C 3.AG

D.C 2.AG

F.C 1.AGCAPO COLONNE

D.C 4.AG

MANCHE DI CIMALIA

Ionian Sea – Western Taranto GulfIonian Sea – Western Taranto Gulf

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d75FRNP

d77FRNP

d63FRNP

d67FRAG

d73FRSH

d74FRSH

d151DREL

SOLFARA MARE

TEMPA LA PETROSAPOLICORO

d6FCAGD150drcs

ROSANETO

d68FRTU

FONTE DELLA VIGNA

MANCHE DI CIMALIA

NOVA SIRI SCALO

Ionian Sea – Western Taranto GulfIonian Sea – Western Taranto Gulf

• Northern has 1.25% beneficial interest

• Tullow Oil 39.5% interest Shell 33% interest Total 25% interest

• Tullow Farm out to Shell of 33% and Total France 25%

• Large 3D seismic survey has been acquired over eastern slope leads analogous to offshore Ghana fields and prospects identified

• Also a billion barrel potential in giant Matamata prospect

Guyane: OverviewGuyane: Overview

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Interims - HighlightsInterims - Highlights

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• Profit before tax €2.286 million on Revenue € 7.013m, + 150% on comparative period

• €25.8 million cash and cash equivalents after Capex of €6.79 million and €12.2 million Placing

• Production 214,000 boe, +250% on comparative period

• Discussions re reserve based debt finance scheduled to continue now Brakel gas field is on stream

• Reserves ostensibly maintained - 102.67 million boe at period end

• Forecast net production rate in excess of 2,140 boepd once Wijk en Aalburg on stream